v3.26.1
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net loss $ (30,836) $ (47,047)
Adjustments to reconcile net loss to net cash from operating activities:    
Amortization of right to use asset 53 37
Stock-based compensation expense 1,659 2,447
Non-cash interest expense 1,094 1,100
Change in fair value of derivatives 3,546 (588)
Changes in operating assets and liabilities:    
Prepaid expenses and other assets 416 (82)
Accrued interest on convertible notes payable and convertible line of credit – related party 6,235 4,440
Accounts payable, accrued expenses and other liabilities (6,042) (2,074)
Net cash from operating activities (23,875) (41,767)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Net cash from investing activities 0 0
CASH FLOWS FROM FINANCING ACTIVITIES:    
Net proceeds from convertible line of credit – related party 21,000 30,000
Net proceeds from issuance of common stock 3,235 0
Net proceeds from exercise of common stock options and warrants 2,240 1,227
Net cash from financing activities 26,475 31,227
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS 2,600 (10,540)
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD 15,120 25,660
CASH AND CASH EQUIVALENTS, END OF PERIOD 17,720 15,120
NONCASH FINANCING ACTIVITIES:    
Payment of preferred stock dividends in common stock 138 91
Common stock purchase warrants issued in connection with related party line of credit 667 845
Noncash right to use lease asset 61 0
Conversion of Series A preferred to common stock $ 10 $ 0